Saturday 21 October 2017

Trump and Brexit factor boost for property sector

Donald Trump. Photo: AP
Donald Trump. Photo: AP

Sean Duffy

The Irish property sector is suffering from a shortage of chartered surveyors, residential block managers and quantity surveyors.

A new survey by Recruitment Plus showed that salary ranges across the construction sector have increased by up to 20pc over the past year.

Recruitment Plus said there had been a 35pc increase in the number of property specialists abroad enquiring about roles in Ireland.

Demand is bringing people home from abroad, particularly the UK and the US, according to Olive Murphy, Head of the Property Division at Recruitment Plus.

Ms Murphy said that Brexit and the election of Donald Trump appear to be motivating factors for Irish people who are looking to return home. She said that both events could also produce an upside for the property sector.

"The silver lining to this cloud of uncertainty in the next 12 months may be that the Irish property sector gets a bigger influx of qualified talent," Ms Murphy added.

"Renewed construction and property redevelopment in the last 18 months has dramatically boosted demand, and there is still a serious shortage of suitably qualified graduates to fill vacancies.

"The downturn deterred study in essential property disciplines, like surveying, and those qualified headed to work elsewhere across the globe," Ms Murphy said.

As a result of the increased activity in the construction sector, there has also been a rise in demand for estate agents and assets managers. Property development jobs in the environment and energy sectors are also on the rise.

However, it was noted that returning emigrants are encountering problems such as a lack of housing, as well as bureaucratic hold-ups in applying for accreditation.

Irish Independent

Also in Business